U.S. Global Jets ETF (NYSEARCA:JETS) Shares Cross Above Fifty Day Moving Average – Here’s Why

U.S. Global Jets ETF (NYSEARCA:JETS)’s stock price crossed above its 50 day moving average during trading on Monday. The stock has a 50 day moving average of $27.85 and traded as high as $28.48. U.S. Global Jets ETF shares last traded at $28.05, with a volume of 4,729,640 shares.

U.S. Global Jets ETF Stock Up 4.2%

The stock has a market capitalization of $873.76 million, a price-to-earnings ratio of 9.62 and a beta of 1.22. The business has a 50-day simple moving average of $27.85 and a two-hundred day simple moving average of $28.39.

Institutional Trading of U.S. Global Jets ETF

Institutional investors have recently modified their holdings of the company. Highland Investment Advisors LLC acquired a new position in U.S. Global Jets ETF during the second quarter worth about $167,000. Rathbones Group PLC bought a new stake in U.S. Global Jets ETF in the first quarter worth about $228,000. Ibex Wealth Advisors bought a new stake in U.S. Global Jets ETF in the first quarter worth about $323,000. Finally, Janney Montgomery Scott LLC lifted its holdings in U.S. Global Jets ETF by 9.8% in the 1st quarter. Janney Montgomery Scott LLC now owns 43,307 shares of the company’s stock valued at $1,067,000 after acquiring an additional 3,871 shares during the last quarter.

About U.S. Global Jets ETF

The U.S. Global Jets ETF (JETS) is an exchange-traded fund that is based on the Stuttgart US Global Jets (USD) index. The fund invests in both US and non-US airline companies. This concentrated portfolio is weighted towards domestic passenger airlines. JETS was launched on Apr 28, 2015 and is managed by US Global.